After holding offers for almost a week’s time, Indian mills have resumed offers for export to SE Asian markets. Offers from major Indian mills like JSW Steel, Essar Steel and Bhushan Steel are heard at around USD 560-565/MT CFR Vietnam for April shipments.
However trade sources shared that no major deals have been concluded yet since end users in Vietnam are eyeing for lower HRC offers from mills in India and China.
This week imported HRC offers from China remain firm. Currently imported HRC offers to Vietnam is around USD 550-555/MT CFR basis.
Also Vietnam based domestic steel producer Formosa Ha Tinh is expected to revise its steel prices next week for May shipments.Thus indicative prices for HRC (SAE 1006,skin pass) is around USD 550/MT CIF for May shipments.Last offers for skin pass HRC of Formosa was around USD 535/MT, CFR Vietnam.
Indian steel mill booked HRC to Malaysia for April shipments- SteelMint learned from market sources that major Indian steelmaker concluded a deal of 10,000 MT of HRC with Malaysia at USD 560/MT CFR basis for April shipments.
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